Ceres: Climate disclosure should be required of insurers

The Federal Insurance Office should begin requiring U.S. insurers to reveal how they plan to cope with the impacts of climate change, two advocacy groups recommended this week in a rebuke to state climate efforts.

Ceres, a group of institutional investors and environmentalists, and a handful of consumer representatives claimed in separate letters that state regulators have “taken little action” to address emerging climate risks that might endanger insurers’ vast investments and their ability to properly price policies.

“As a starting point, we would suggest that the [Federal Insurance Office] require public disclosure from all insurers of ways in which climate change impacts financial health, solvency, and insurance availability and affordability for customers,” Andrew Logan, director of Ceres’ insurance program, said in a four-page letter…

“The Federal Insurance Office should begin requiring U.S. insurers to reveal how they plan to cope with the impacts of climate change, two advocacy groups recommended this week in a rebuke to state climate efforts.”

Thats easy – your new premium will be ten times more per annum if you have any chance of suffering a climate change impact.

To claim you will need to prove the impact was related to manmade climate change and not caused by an “act of god”.

That ought to cover it – no insurance liability to worry about and an ever increasing revenue stream – sounds like some other climate change scheme that I just can’t put my finger on at the moment – UNhelpful.